Dollar Stable Against Yen Ahead Of Fed Meeting – 28 October, 2019

Ahead of this weeks Federal Reserve meeting, the dollar managed to hold onto some overnight gains, with optimism over a U.S.-Sino trade deal being the main driver, though failure to come to an agreement about tariffs could cause progress talks to crumble. . The dollar kept its overnight against against the yen, last standing at 108.96 yen per dollar. The dollar index was flat at 97.775, and was also steady against the euro at $1.1096. The Australian dollar was just below a five day high of $0.6842, and the kiwi gained 0.2% to $0.6361. The offshore yuan hit a six week high on Monday, was stable at 7.0617 per dollar. The pound dropped $1.2857, just days ahead of the scheduled Brexit. A third rate cut is expected to take place after the U.S. central bank meets later in the week.